Baku: An additional 534 million manats have been allocated annually for increase, which applies to 1.1 million pensioners, Ministry of Labor and Social Protection of the Population of Azerbaijan told APA.

According to Azeri-Press News Agency, President Ilham Aliyev’s new Decree “On Indexation of Labor Pensions” allows for further increases in pensions as part of the new social reform package implemented at the beginning of this year and for the successful continuation of consistent measures to strengthen the social protection of pensioners.

It was noted that all pensions assigned by the Decree until January 1, 2025, will be increased from January 1 of this year by indexing by 8.1 percent in accordance with the annual increase in the average monthly salary for 2024, according to information provided by the State Statistics Committee.

Pension increases are implemented automatically through the electronic system, without the need for pensioners to submit any documents or apply. Pension increases for January will be paid together with the February pension.

The indexation increase in pensions applies to all pensioners (including retired military personnel, law enforcement officers, etc.), that is, to 1.1 million pensioners, and an additional 534 million manats have been allocated annually for these increases.

It is also planned to increase the minimum pension from 280 manat to 320 manat, an increase of 14.3 percent, from February 1. Allowances and pensions will also be increased in the coming months.

In general, an additional 1.4 billion manat has been allocated for new increases in social payments under the next social reform package implemented since the beginning of this year, and these increases cover 3 million citizens.